Category: Business

MOSCOW (Sputnik) – Russian aluminum giant Rusal on Thursday announced the resignation of its chief executive Alexandra Bouriko and seven directors.

“Alexandra Bouriko, the CEO of the Company, has tendered her resignation as the CEO with effect from 23 May 2018. Ms. Alexandra Bouriko has confirmed that she does not have any disagreement with the Board,” the company said in a press release.

Rusal said Evgeny Nikitin has been appointed by the Board as her replacement until a new chief Read more about Russian Aluminum Giant Rusal Announces Resignation of Top Executives …

MOSCOW (Sputnik) – Russia’s second largest city of St. Petersburg will traditionally host the International Economic Forum (SPIEF) between Thursday and Saturday, where business representatives, top politicians and countries’ leaders will gather to discuss crucial economic issues.

The three-day event is a major global platform for communication and will feature numerous panel sessions dedicated to Russia’s and international economic agenda, energy policies and oil and gas markets. The Read more about St. Peterburg to Host SPIEF on Acute Global Economic Issues …

In wake of the upcoming start of the investment cooperation between Russia and Egypt, Sputnik spoke to Egyptian Minister of Industry and Trade Tarek Kabil to get more insight into the business issue and an ambitious project of the Russian Industrial Zone.

Sputnik: How do you assess the level of investment necessary for creating a Russian Industrial Zone in Egypt?

Tarek Kabil: Based on the initial preliminary discussion, first of all the area is about 5 million square meters. It Read more about Eliminating Trade Barriers: Egypt Sees Potential in Russian Industrial Zone …

ST PETERSBURG (Sputnik) – US banks have not yet changed their attitude toward Russia’s VTB bank after new anti-Russian sanctions and have not refused to work with the bank, VTB Chairman Andrey Kostin said Wednesday.

“US banks have not stopped working with us and have not changed their attitude yet, we do not see any tightening, because the bank itself is under sectoral sanctions, which provide for certain restrictions, but do not provide for more severe ones. I have friendly relations with Read more about VTB Chairman: US Banks Still Working With Russia’s VTB Despite New Sanctions …

In a recent case involving the much controversial extraterritorial reach of US policies, hundreds of people may lose their jobs if one of BP’s oil fields is shut down.

The British oil company has suspended work in one of its North Sea fields while it strives for clarity over US-imposed sanctions on Iran, according to BBC.

Although BP’s stake in a joint project with Iran, namely the Rhum oil field, is being sold to another British oil and gas operator, Serica Energy, BP plans to Read more about UK Energy Giant Gives Into Pressure From US, Suspends Work on Iran Project …

MOSCOW (Sputnik) – Russian President Vladimir Putin will meet with the chief executives of foreign companies on the sidelines of the St. Petersburg International Economic Forum (SPIEF), representatives of BP, Siemens, Huawei, Shell, Boeing, Total, Volvo and Toyota will attend the meeting, Kremlin aide Yury Ushakov told reporters.

“Another traditional event in the program with the president, it is held every year, it is really very valuable and important, is a meeting with the heads of the Read more about Putin to Meet With Foreign Companies’ Chief Executives on SPIEF Sidelines …

Supreme Leader of the Islamic Republic Ayatollah Ali Khamenei has announced a new development course for the country – this year has been declared in Iran “Year of Iranian Manufacturers’ Support.” He has stated that an increase in domestic production will help to solve an array of the nation’s economic and social issues.

In line with Khamenei’s recommendation, Vice President Eskhak Jahangiri has said that the government would from now on be prohibited from buying foreign goods in the Read more about ‘Made in Iran’: Islamic Republic Sets Ambitious Goals to Battle Foreign Imports …

WASHINGTON (Sputnik) – US President Donald Trump said in a statement on Wednesday that trade negotiations with China were moving forward, but he hinted that a final deal would need to rely on a “different structure” to ensure compliance.

“Our Trade Deal with China is moving along nicely, but in the end, we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion,” Trump said in a Twitter message.

On Tuesday Trump told Read more about US Trade Deal With China ‘Moving Along Nicely’ – Trump …

Read more about Macron’s EU Reform Slammed by German Economists as “Great Risks for Europeans” …

MOSCOW (Sputnik) – Swedish Trade and EU Affairs Deputy Minister Oscar Stenstrom will attend the upcoming St. Petersburg International Economic Forum (SPIEF) in order to promote interests of Swedish companies in Russia, the Swedish government’s press service said on Wednesday.

“On May 23-25 Deputy Minister for EU Affairs and Trade Oscar Stenstrom will attend St. Petersburg International Economic Forum,” the press release read.

The press service noted that the aim of the visit is to assist Read more about Swedish Trade Deputy Minister to Attend SPIEF …